Safehold (NYSE:SAFE) Price Target Cut to $21.00

Safehold (NYSE:SAFE) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $23.00 to $21.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 13.27% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Mizuho cut their price target on shares of Safehold from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, March 7th. Royal Bank of Canada cut their price target on shares of Safehold from $33.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. The Goldman Sachs Group boosted their price target on shares of Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Jefferies Financial Group assumed coverage on shares of Safehold in a report on Thursday, January 4th. They set a “buy” rating and a $33.00 price target on the stock. Finally, JMP Securities assumed coverage on shares of Safehold in a research report on Tuesday, January 23rd. They issued an “outperform” rating and a $35.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Safehold presently has a consensus rating of “Moderate Buy” and an average target price of $28.40.

Safehold Stock Up 1.5 %

Shares of NYSE SAFE opened at $18.54 on Wednesday. The stock has a market capitalization of $1.32 billion, a P/E ratio of -22.89 and a beta of 1.46. The company has a 50-day moving average price of $20.13 and a 200-day moving average price of $19.83. Safehold has a 1 year low of $15.00 and a 1 year high of $30.00. The company has a debt-to-equity ratio of 1.78, a current ratio of 36.61 and a quick ratio of 36.61.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Monday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Safehold had a negative net margin of 15.59% and a positive return on equity of 4.31%. The firm had revenue of $103.00 million during the quarter, compared to analysts’ expectations of $84.89 million. During the same period last year, the company earned ($6.00) earnings per share. The business’s revenue was up 40.3% on a year-over-year basis. On average, equities research analysts forecast that Safehold will post 1.52 EPS for the current fiscal year.

Institutional Trading of Safehold

Several hedge funds and other institutional investors have recently modified their holdings of SAFE. Fifth Third Bancorp raised its position in shares of Safehold by 1,240.4% in the third quarter. Fifth Third Bancorp now owns 1,394 shares of the company’s stock valued at $25,000 after purchasing an additional 1,290 shares during the period. State of Wyoming bought a new stake in shares of Safehold in the second quarter valued at approximately $25,000. Tower Research Capital LLC TRC raised its position in shares of Safehold by 470.4% in the third quarter. Tower Research Capital LLC TRC now owns 1,717 shares of the company’s stock valued at $31,000 after purchasing an additional 1,416 shares during the period. Versant Capital Management Inc raised its position in shares of Safehold by 197.7% in the fourth quarter. Versant Capital Management Inc now owns 1,402 shares of the company’s stock valued at $33,000 after purchasing an additional 931 shares during the period. Finally, GAMMA Investing LLC bought a new stake in shares of Safehold in the fourth quarter valued at approximately $33,000. Institutional investors own 70.38% of the company’s stock.

Safehold Company Profile

Safehold Inc (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk.